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Originally published by The Standard Business
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May 25, 2026
4h ago

Digital payments sector pushes back on new levies at Africa Day crypto forum

Digital payments sector pushes back on new levies at Africa Day crypto forum

Finance Bill 2026 has put the digital payments sector on edge, with the cryptocurrency industry calling on the government to grant tax exemptions on proposed new levies...

✨ Key Highlights

Kenya's burgeoning digital payments and cryptocurrency sectors are pushing back against proposed levies in the Finance Bill 2026, arguing they could stifle growth.

  • The bill proposes a 16pc VAT on payment service providers, a 25pc excise duty on mobile phones, and a withholding tax on card payments.
  • Binance Africa, along with other fintech players, is advocating for tax exemptions, citing the industry's infant stage and the potential to drive financial inclusion.
  • Concerns were raised that these levies would likely be passed to consumers, potentially reversing gains in financial inclusion.

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